CRUISE stocks are on the rise in the United States, as brokerage Citi remains upbeat about the industry’s strong growth indicators.
Companies such as Norwegian Cruise Line Holdings (up 11%) surged overnight, with Citi upgrading it from “neutral” to “buy”, Reuters reports.
Meanwhile, Royal Caribbean Group’s (RCG) shares reached an all-time high of US$263, after rising as much as 5%.
Carnival Corporation was also up, surging 9%.
Cruise traffic last month was also among the best on record, while pricing data remains consistently positive when looking to next year and beyond, Citi said.
Both Norwegian and RCG are expected to grow capacity at a 6% annual clip, Citi added.